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The Rachel Maddow Show

News/Business. (2011)

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Us 16, America 14, Washington 12, Elizabeth Warren 10, Rupert Murdoch 9, Heller 9, U.s. 6, Tim Pawlenty 4, Paul Ryan 4, Nevada 4, Mr. Murdoch 3, Britain 3, Rachel 2, Holly 2, Siemens 2, United States 2, Murdoch 2, Holly Petraeus 2, Les Hinton 2, Richard Cordray 2,
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  MSNBC    The Rachel Maddow Show    News/Business.  (2011)  

    July 19, 2011
    12:00 - 1:00am EDT  

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thanks very much and thanks to you at home for joining us for the next hour. this spring, republicans in the house and senate voted to kill medicare, they voted for the house budget that would get rid of medicare by privatizing it, by turning it into a coupon program. that vote was almost unanimous among republicans in the house, only four republicans voted against it, 235 voted for it. in the senate, five republicans voted against it and 40 senators voted for it, and that nearly unanimous republican endorsement of killing medicare, that vote for the paul ryan budget led directly to the loss of a safe republican seat back in may. the democrats in charge of taking back the house for their party in 2012 rather gleefully announced they did have a three-part strategy and they three part strategy was medicare, medicare, and medicare. as every swing state and swing district republican who had voted for the kill medicare plan
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started to sweat over their fate in the next election, even those worried republicans all spared a thought for this poor sot in nevada. his name is dean heller, and because of the quirk in the timing of when john ensign resigned in disgrace over his sex scandal and when the nevada governor appointed dean heller to fill ensign's seat, because of that quirk, dean heller is the only poor sap on earth who had to vote to kill medicare twice. while he was still in the house, he voted for the plan to kill medicare, then voted again for the same thing again, voting not once, but twice to kill medicare, and he represents a swing state, and this is what dean heller's life is like now. >> this spring congressman dean heller voted to end medicare. then heller was appointed to the senate where he voted again to leave nevada seniors to the
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mercy of the private insurance companies. now we get to vote on heller's replacement in the house of representatives. and for nevada, it comes down to one issue. will the candidates vote like dean heller? because if they vote to end medicare and double seniors' costs like heller, why would they deserve our vote? >> whether or not you are a sucker for a walking baseline in any ad, i confess, voting for the paul ryan kill medicare budget is so politically potent, what you saw there is that vote being wielded against people who didn't even necessarily vote for it themselves but who might be sort of like the people who did vote for it. this kill medicare vote the republicans took this spring, this is what's known in politics as a humdinger, democrats think those votes are still going to be driving votes in november of next year. that is how democrats feel about the republicans paul ryan kill
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medicare budget. but the republican leadership in congress, looking at that same indicta, apparently looks at that kill medicare vote from this spring and thinks, we did not go far enough. the paul ryan kill medicare budget would have capped spending at below 20% of gdp. to get to cuts that dramatic, republicans did something as dramatic as killing medicare and a lot more besides. now republicans are saying they won't vote to raise the debt ceiling unless spending is capped at even less than that 20%. they now want to cap spending at 18% of gdp. in real dollars, that's about $300 billion smaller than the paul ryan kill medicare budget. republicans had a chance to vote on a budget back in april. back in april they considered an 18% spending cap, and even republicans considering their own proposal to do that, earlier this year, even republicans thought it was too radical. more republicans voted against that than voted for it. but now they are insisting they
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must vote on that thing again. they want to do it now, act out that pageant of symbolic voting before they'd agree to raise the debt ceiling. that's where the fight is now on whether or not we're going to default on our debt, republicans in congress insisting on voting on something so draconian they already voted it down this year. if by some miracle that passes, which did it won't, president obama said he'd go ahead and veto it. on friday, signatures from about 200,000 obama donors, volunteers, and supporters to president obama's campaign headquarters in chicago. these are not just 200,000 random americans, these are 200,000 people who knocked on doors, walked precincts, raised money, gave money, and helped the last time president obama ran for president in 2008. it brought with them on friday a warning, a message to the president, to not follow the republicans down the rabbit hole on these budget fights.
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>> what this is about is about letting the president know how desperately we want to support his campaign, how much we want to be volunteering and being in the fox hole with him again but we simply cannot if he cuts medicare, medicaid, and social security benefits. >> i'm 59 years old. and my heart breaks easily now. when i heard he's willing to cut medicare, medicaid, and social security, he signalled to me that my future is weak. >> i cannot put my time and money towards that campaign if those cuts are made. >> no, i won't. not if he cuts medicare and social security. i'm 61. i'm looking at a retirement in a few years. if this is just a give away on the table like everything else has been, he has lost my support completely. >> as we run out of time on the issue of raising the debt ceiling, republicans in congress
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are telling the president that he has a choice for the economy, forgive the war metaphor, but essentially what they are saying is either they can blow up the economy with a cruise missile, or they can blow up the economy with a dirty bomb. either we'll take a direct hit because we'll default on our debt and will incinerate 30% of the gdp and we will definitely be back in recession and likely into a depression, sounds fun, or the dirty bomb, the proposal they themselves rejected as too insane for even their own votes just months ago. their proposal to cut spending, hundreds of billions below even their kill medicare budget. their kill medicare budget which horrified even jack kent's blood red district in upstate new york to turn that blood red district blue. the president's own campaign volunteers now telling him to reject the framing republicans have insisted on, not take the republican bait to go after
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social security and medicare, and in the midst of all of this going on in the right and on the left, yesterday, in washington, on a sunday, the president announced the head of the new consumer protection bureau. it will not be elizabeth warren, frankly better than anybody else about communicating with people about economic issues, instead, elizabeth warren's deputy, a former ohio general praised today by elizabeth warren himself, saying that he has a good track record, and praised today by sharon brown who says there is no question about his qualifications, and praised by the current attorney general of ohio, a republican, the man who beat him in an election last year, who says that he will do a good job. the consumer protection agency officially opens for business on thursday. republicans have long said now they'd oppose not only elizabeth warren running that agency, but they would oppose anybody running that agency because they
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don't want that agency to exist, because they think consumer financial protection is some sort of anti-banking scheme and they are with the bankers. so this is going to be a fight. this is always going to be a fight, but now we know thanks to how far the republicans are pushing things in washington right now, now we know this is going to be a fight on a high wire over an abyss. elizabeth warren writing today on the white house blog, quote, "we got this agency by fighting, we stood it up by fighting, and if it takes more fighting to keep it strong and independent, then we can do it." joining us tonight for the interview is elizabeth warren, recognized at the architect of the consumer protection bureau. she's been serving as an assistant to the president and special advisory to the president. thank you so much for your time. >> thank you, it's a pleasure to be here. >> this is a landmark week for you. the agency you championed comes into existence with a slew of
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enemies already in washington, which you wrote about today. how do you feel about this first week and the chances for this agency's survival? >> you know, i actually feel great, and i'll tell you why i feel great. i feel great because the agency is strong, because we have attracted tremendous people to come here and work, because there are people around the country who follow what we do and who are behind it, because we're really going to make this work. and look, if it takes a fight, we've fought before, we'll keep fighting, because at the end of the day, we are fighting for america. we are fighting for middle class families who just want a fighting chance when they go into the marketplace, they want to be treated honestly and fairly, they don't want to be cheated. this agency is there to be a cop on the beat and make sure there's fairness in the system. that's all it's about. >> given republican criticism of the agency and this really palpable fear in washington over you as a potential nominee and what this agency is going to do. let me ask you for specifics.
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one thing you described today, in the piece you wrote for the white house blog, you set up an office of service member affairs working on problems they face. what is that need there that you are trying to meet? what is the agency doing to meet that need? >> this has been one of the very first parts we filled in in the agency as we're trying to build all the pieces out. and that is that holly petraeus came into me the second week i was on the job and started talking about what's happening to military families. look, i knew some of it, but boy, i didn't know it firsthand the way holly petraeus knew it, about how young service members are targeted by those who figured out that they can just peel their money away, what's happening to service members when they are overseas and they are not getting the full protection of the law they are entitled to, about the number one reason in america for losing your security clearance is a problem with a creditor.
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holly said there's a lot you can do with this agency and i want to see you do it. i had a couple of conversations with her and i said shoot, i think we just saw the person who should stand up this office, and that's what she's been doing. she's gone around to military bases around the country. i have gone with her some. she's gone on her own to several, really starting the conversation with military families about what's happening to them and what we can do to be helpful. if you go to our blog, let me do a commercial, www.consumerfinance.com. there are a lot of pieces on it right now, but one is there for military families and they have an ongoing conversation with holly and the staff she's building. we just met last week with the judge advocates general of the different military branchs and are working out with the department of defense how we can work in concert to be stronger to be there for military families. there are major financial institutions that have admitted
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that they didn't follow the law that they focussed illegally -- foreclosed illegally against military members and their families when those members were deployed in iraq and afghanistan and other places outside of the united states. we've jumped in on that and asked for what procedures they are using to make sure they are going to be in compliance with the law, and starting this thursday, we get to start putting our cops on the beat. we're here for military families, but, you know, that's just a microcosm of what's happening in all of america. that's what this agency is for. >> hearing you talk about that with such passion, and i know this is what you've been doing for all this time, i have to ask you if you wish you had been appointed by the president to be running the agency, and if now you are leaving washington, heading home to massachusetts, you if feel like you have developed a washington allergy or if you'd like to get back in
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there. >> let me start with the first part because we all have to remember this. we would not have a consumer agency if not for president obama. two years ago, right about now, he looked out and said the consumer agency, that's what i want to put in financial regulatory reform. over the next year while everybody fought back and forth over the regular reform bill, there were a lot of offers on the table to get something else. kill the consumer agency or weaken it. he consistently said no. and a year ago right now, this week, he signed into law a bill that made this consumer agency exist and as strong and independent way. now, since then, what's happened is there are folks on capitol hill, republicans in the senate and the house, they voted against the bill to begin with -- against the agency to begin with. they've introduced bills to try to cut our funding. they have introduced bills to try to make us less independent.
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they have introduced bills so that we have a gummed-up structure so we can't get anything done. and they have introduced bills to flat out repeal us. i want to be clear, the reason i cannot run this agency is because of those people. they've made it perfectly clear they will not let the agency go forward if i'm there, fine. i can step away from this. what i care about is this agency. the president has now made his nomination. he's a good man, richard cordry is, and i think it's time to take the fight straight to the republicans. we need a director in place, that's the law, and we are not, not, not going to let the minority come in and dictate the terms of this agency, rip its arms and legs off before it's able to help a single family. >> when you talk about taking it straight to the republicans, do you want to be part of that fight in the future? >> you know, i'm going to be part of that fight one way or another, rachel. let me be clear about this. i have really done three things
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in my life. i have thought taught school, because that's what i do. i have done research about what happens to middle class families, and tried to understand that, and i have thrown rocks at people that i think are in the wrong. i've done it before, i've continued to do it, and i'm going to do it in the future. >> elizabeth warren, consumer advocate and harvard law professor. thank you for taking time on this night of all nights to talk to us about this. best of luck, i hope we'll stay in touch. >> thank you. >> you should know, if you don't already, that there's an effort underway by liberals and massachusetts democrats to make elizabeth warren convinced that she ought to run for senate against scott brown. just so you know. that's just happening. i'm reporting, you decide. as we steam headlong to an on purpose default of the nation's debt and a potential downgrade of the nation's credit score, today in washington things did not just get not better, things got weird. things got surreal even. instead of running around like
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they have been doing, today was freeze tag, stopped dead in its tracks. i think we found out who was it. in this game of freeze tag, who made everything get so weird today in washington. that's next. now in a delightful foam. just three shakes, foam it, love it! it's foamtastic! new nice 'n easy colorblend foam. your right color. is now honey nut cheerios! yup, america's favorite. so we're celebrating the honey sweetness, crunchy oats and... hey! don't forget me!! honey nut cheerios. make it your favorite too!
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we'll take it. go, big money! i mean, go. it's your break, honey. same coverage, more savings. now, that's progressive. call or click today. somewhere in america, there's a doctor who can peer into the future. there's a nurse who can access in an instant every patient's past. and because the whole hospital's working together, there's a family who can breathe easy, right now. somewhere in america, we've already answered some of the nation's toughest healthcare questions. and the over 60,000 people of siemens are ready to do it again. siemens. answers. here's how citigroup describes it. asking what the u.s. economy might look like after a possible u.s. treasury default is akin to asking what will you do after you commit suicide.
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here's how the treasury secretary put it in a meeting with democrats. if this country defaults on its obligations, it will be much worse than the great depression. it will make the massive financial crisis of 2008 look mild. it will make what we just went through look like a quaint little crisis. when moody's said it's considering downgrading our nation's credit score so it's not a aaa anymore, their threat was not to downgrade the nation once we default on our debt on august 2, their threat was to downgrade us now, now, mid-july because we have gotten this close to default, because congress is willing to put the full faith and credit of the united states in this much danger, because of something they could resolve with a vote if they wanted to. if we do actually default on purpose, not only does the government effectively shut down, not only does social security checks most likely stop going out to the people, for example, who live off that check, not only do $50 to $100 billion disappear to treasury
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bills, bye-bye, 401(k), not only does the stock market tank, but interest rates, which are the only good thing in the economy right now, the only point of flexibility in the economy that is limping along, interest rates which are near zero now, if we default, want to know what happens to them? you take a direct hit on your mortgage, on your credit card bills, on your car loan, on your student loans, on your home equity loan, on any loan you've got. this will have a personal affect on you. as tough as it gets to you for an individual human, it gets tough in all the same ways for businesses, particularly in small businesses too. you're not going to be able to get loans, same things for businesses. as we'll all throw our hands in the air and scream as we watch indicators like this again, the whole u.s. economy will grind to a halt alongside the government. that's what we are coming up on now. and with that bearing down on us now, the debt ceiling has to be raised now. we don't have until august 2.
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some of this stuff may start to happen anyway. and with that bearing down on us now, house republicans today in washington decided that some of the stuff they were going to work on towards getting this whole issue settled, they are going to put it off until next week. they'd like to maybe consider a constitutional amendment. remember that constitutional amendment idea that didn't go anywhere back in the '90s? maybe we should kick that around again, maybe this is a good time to try a few symbolic votes, try to get some messaging done, we've got time. in what could not be a more urgent crisis environment, a crisis created entirely by republicans refusing to do something they did five times while george w. bush was president, in a congress-created crisis now truly urgent, republicans now say they'd like to slow things down. what train barrelling down at us? they are going to schedule some votes for maybe -- i don't know,
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you busy on the 126th of never at quarter past, yeah, right? joining us now, john stanton, washington reporter, roll call reporter, thanks for joining us. >> good to be here. >> what's going on right now among republicans that there does not seem to be a sense of urgency there. do you think it's negotiating tactic? or do you have any other sense of where the republicans might be coming from? >> yeah, i think it's a negotiating tactic sort of within their own conference frankly. i think that the leadership has a sense of urgency privately right now. seemed like they had it out there in public a week ago and they backed away from that. they are now supporting this cut, cap, and balance bill the conservatives want, this is more really a negotiating tactic with their own conservatives, trying to convince them they are serious about trying to pass these bills so when they do fail because there aren't enough democratic votes they will then need to go back to them and say we have to do the mcconnell plan or some other debt limit raising legislation and they need them to buy into
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it. and right now, they just don't have that support within their own conference. >> that is the dynamic i sort of thought was going on, that's why my hair spontaneously combusted today, and this is now a wig. when i saw that they were putting off their balanced budget amendment until next week. if the whole idea is to start negotiating again with their base, we're out of time if this isn't even going to start until next week. >> well, they are in a bit of a tricky spot quite frankly because their base thinks what they are trying to do is what you said, have these votes, show they can't pass these things, then move on to something else they can do. to get their base to do the second step, they need them to not believe the first step is what's happening, they need them to believe they want to do these things. and they have some chance of doing it. this week they decided to postpone the vote at least for now in the hopes, i guess, technically of finding democratic votes.
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only thing is there are no democratic votes out there for them. the way they have this balanced amendment budget, no way they are going to get the 50 or 60 democrats they are going to need to pass it. the votes aren't there right now. and leadership knows this, but the rank and file is not convinced, and they are not particularly convinced that the debt limit is a huge problem. they think we can hit it and pay social security and our interest and not have an impact on the economy. >> that last point, i think, is maybe the most worrying, this idea it's not posturing or strategy or trying to get the best deal but there are a number of republicans for whom there really isn't any urgency because they are in denial about what the debt ceiling means. how significant is that number of republicans who feel that way? >> it's significant, and it's growing, which is concerning some republicans frankly. there are those within the leadership that will look at that and they are a little alarmed, frankly. last week they had one of george
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h.w. bush's top economic advisors come in and address the conference to try to convince them of the seriousness of the issue and consequences of it, and members leaving that said they didn't believe him partly because george h.w. bush wastes -- raised taxes, but partly they feel that the barack obama administration and economists on the left are pushing, and the number is growing. i think leadership thought that number was going to come down as we got closer to august 2, that more people would feel the sense of urgency and need to do something. it's been the opposite of it, which is complicating things more than they expected. >> john stanton, washington writer for "roll call." thank, john. i appreciate it. >> any time. finding out the number of default denialists in the republican party is increasing, it's like you always knew somebody was an end timer, only a few days left.
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the end is nigh. it's one thing to know somebody has an apocalyptic mindset, another thing to find out that person has been in charge of your retirement account or your savings account. for your whole life and you didn't know. it's just terrifying. you ever been in the grocery store and seen the ads they put on the floor now? so even if you are staring at your feet like i do to avoid the overlit stillulation in the grocery store, you are still looking at the floor because the ads are on the floor. turns out there's a connection between the ads on the floor of the grocery store and the really shaky looking future of the guy who owns fox news. that's next. to 55 million more americans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... for greater access to all the things you want, whenever you want them.
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zblnchtsz this. this week is the one-year anniversary of the capping of the deep water oil well in the gulf of mexico. all of that is still not cleaned up, by the way. oil continues to wash ashore and the latest coast guard survey in louisiana showed five miles of beaches and eight miles of louisiana marshes heavily oiled. for the anniversary of capping that well, bp has decided to celebrate with a new oil spill in alaska. a ruptured pipeline on saturday spewed between 2,000 and 4,000 gallons of what was described as a mixture of methanol and oily water onto the alaskan tundra. i wonder how they'll celebrate the two-year anniversary. [ man ] they said i couldn't win a fight.
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but i did. they said i couldn't fight above my weight class. but i did. they said i couldn't get elected to congress. but i did. ♪ sometimes when we touch
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this is a sort of cool advertisement placed on the floor. it is an ad placed in this case by a painkiller that's designed to catch your eye and make you want to buy their product. no matter it where it hurts, this painkiller targets your pain. look up, look up, now buy that particular painkiller. right there in the isle. this is called floor ads. floor ads are big business across this country because -- come on, if you're a company who sells stuff in supermarkets, wouldn't you want a big shiny floor ad featuring your item on the floor like this one? a couple of years ago, a floor add ad started mysteriously started losing thirty-teir clie
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because a company started stealing their clients. floor graphics was a small firm in new jersey, but a big players entered the arena, a big player with a bigger corporate parent, a company you may have heard of, news corp. they decided they wanted to get into the floor ad game. they had a u.s.-based company that was already involved in the supermarket advertising business. but it really wanted in on those awesome floor ads. the only problem for the big rupert murdoch owned news america, was that this small new jersey company, floor graphics, was dominating this market. you say problem, news corp says opportunity. news corp. set its sights on taking this little company down. they had the right guy to do it, according to a fortune magazine profile, he is similar to
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carlucci, who once tried to motivate his sales team by taking a baseball bat and crushing it. rupert murdoch's news america began to play hardball with floor graphics so so much so that in 2006 floor graphics had enough, filed an unfair news practice against news america. >> computer espionage. hacking. where have i heard this before? this complaint filed in new jersey federal court in 2006 accuses rupert murdoch's american supermarket services company of repeatedly and systematically hacking into their computer database. on at least 11 separate occasions, news america intentionally, knowingly, and without authorization breached our secure computer system and repeatedly accessed, viewed, and obtained our private information. how did they know it was news corp that was responsible?
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quote, our investigation traced the unauthorized access to a computer with an ip address registered at the time to news america. so was rupert murdoch's news corp guilty of hacking into a competitor's computer system and then stealing all of their sensitive material? i don't know. after just a few days of testimony in the trial, news corp settled the case out of court, reportedly for about $29 million. shortly after settling, news corp then bought the company it just accused of hacking. little fish meet big fish, chomp. about 12 hours from right now, rupert murdoch and his son james murdoch will be testifying about the phone hacking scandal that's now threatening to take down at least some of the murdoch media empire ahead of what is expected to be must-see tv here on msnbc naturally, news corp has provided a statement to nbc news, which essentially sets up the murdoch defense. it reads in part, quote, reject
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the notion that the issues at news international are somehow indicative of our culture. this was an isolated incident. this hacking stuff, this is not how we at news corp do business. it was one little paper. the rest of us don't even recognize that behavior. it is key to rupert murdoch surviving the scandal. this is a "news of the world" problem, they'll say, not a murdoch inc. problem. only problem with that defense, oh, hello there, mr. floor ad guy. excellent media reporter for the new york times wrote today, the way news corp cleaned up this alleged hacking scandal, u.s. hacking scandal with the floor company allegedly paying large sums of money to sweep the thing under the rug, that's been the way they've been operating in mr. carr reporting that news corporation has paid out about $655 million to make embarrassing charges of corporate espionage and corporate competitive behavior go away.
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amazing what money can do. if you are wondering, as you should be, whatever happened to that news corp executive who motivated his staff by playing that movie scene, whatever happened to good old skull-crushing paul carlucci, he is now the editor of rupert murdoch's own "new york post." mr. carr, thank you for being here. >> pleasure to be with you, rachel. >> there's a report tonight that news corp directors are contemplating replacing murdoch with chase kerry to the top position. do you place much stock in these reports, and how big of deal would it be? >> it would be a massive deal, hard to imagine news corp. without rupert murdoch. those of us who covered the beat have a stockholm syndrome.
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we lived with mr. murdoch so long we can't imagine life without him. i do not think -- bloomberg was suggesting that everything depends on his testimony tomorrow. tomorrow depends on him retreating and apologizing. two things he's not very good at. so i think we can assume it's not going to be a great day for rupert murdoch. but the idea that they're going to pivot from that and immediately replace him with chase kerry, i'm not buying that. >> in terms of the scope of his culpability, is it isolated to "news of the world" problem if these kinds of practices are shown throughout the empire? is that the extent of his culpability? >> from a business perspective, it's ok that britain is on fire. that's the heart of many of his own interests in terms of the papers and where his own talents are, but in the business sense, not that big of a deal.
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if the flames went to america, in a sense it already has, les hinton of the wall street journal is out, market cap of news corp is down. there are stories like the one i worked on and others that are bringing broader issues of culture into question. it's really important that they somehow contain it. but every ledge that they have built, ok, here's rebekah brooks, here's les hinton, the beast just keeps eating. the story will not quit. >> does the size of the story, and therefore, the height of the flames and therefore their chance to bridge other continents depend on how much december this does to david cameron and the british government, to have both the head of scotland yard, the number two at scotland yard, and the director for cameron himself all either resigned or arrested at this point? it seems like the political fallout in britain is still really continuing. >> i think it's all of the pieces that makes the story so darn interesting, tough to look
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away. the "wall street journal" today suggesting that people like you, people like me, are far too interested in and we are engaging by taking joy in the pain and misery of mr. murdoch and the people that work there. at the same time, if you looked at the front page of the "wall street journal," splash, big story, three more stories inside. you have an editorial saying you're ganging up on us. well, hey, your own paper, the biggest, most important business paper in the world, saw fit to publish four big hard-hitting stories about it. >> right after the chain saw line, which i thought was a great line, while being insulted by it i admired the insulter. in the same paragraph, you get, they want -- they, you and i and the rest of the media -- they want us to believe based on no evidence that the publication somehow tarnished thousands of other news corp journalists
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across the world, making the case immediately that the isolatability of the crime is key to its importance. >> i think it's important that people think that it's a free floating nation state that operates by its own rules, that roams off corners wherever it can. it takes regulatory and tax advantage of whatever jurisdiction it operates in. for the most part, those of us who cover the story have admired their aggression and ability to win over and over. it was assumed that they colored just up to and on the line, not over the line. i think it's the illusion of the invincibility, that mr. murdoch will get whatever he wants, whether it's "the times of london," the "wall street journal," has been blown away. and there's a kind of -- at least in britain, a kind of british thing where nobody would ever say anything about this guy and in parliament tomorrow you
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can bet people will be screaming at the top their lungs. >> david carr, nice to have you here. >> it's a pleasure. thanks. coming up, ed talks with someone who understands what political advantage is. he just introduced a resolution to take medicare and social security off the table. and best new thing in the world still to come. and most unexpected use of "jeopardy" in partisan politics. that's all ahead. of your balancs and transfer between accounts, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you.
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when people run for office now, in addition to making campaign videos, regular ads, they also have a tendency to make little movies about themselves that they post online. tim pawlenty has been the most over the top with it this year, trying to cast himself as not the boring, but nice guy from the midwest but rather than tim pawlenty, movie star. >> this is the united states of america. it takes extraordinary effort, it takes extraordinary commitment, it takes extraordinary strength. valley forge wasn't easy, landing on the moon wasn't easy. settling the west wasn't easy. >> it's very exciting! settling the west wasn't easy. tim pawlenty!
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this is kind of the trend in political videos. i, politician, struggling with poor name recognition, i am secretly an american hero. discover me. i love this stuff. even when the candidates wig me out a little bit, i love these i am a hero videos. but you don't have to go very far back in time to find a kinder, gentler time in i'm running for office film making. compared with tim pawlenty in all but a cape in tights this year, bill clinton's man from hope video from 1992, that one seemed totally over the top emotionally at the time. but now when you look back at it, it's almost like a documentary. >> i was born in a little town called hope, arkansas. >> perhaps the all-time lowest key of all low-key campaign videos is this next one, from the 2008 ohio attorney general's race. in a seven-minute video, a seven-minute movie about the candidate, it features more than a solid minute of footage from the tv game show "jeopardy."
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>> in 1762, ben franklin was given an honorary degree by this english university. richard? >> what is oxford. >> that's right. also for $200 more. suppose it was appropriate that richard cordray would come up with the correct response so that last clue we had regarding oxford university, because this man received a ba at oxford. is that right? >> that's right. thank you, alex. >> you were there on a scholarship program? >> yes, from the british government. the marshall scholarship program. >> after electrifying the people of ohio featuring his jeopardy skills and the human interview part, did that marshall scholar go on to get elected attorney general of the great state of ohio? yes, he did! richard cor cordray, went on to be treasurer of ohio and attorney general of ohio, and he earned a reputation as attorney general for going after banks and predatory mortgage lenders with some obvious relish. and now richard cordray has been named to head up the consumer
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financial protection agency. the agency that is supposed to make sure that banks write mortgages in a way that is fair and understandable. and that credit card companies send you rules and regulations in plain language so that you can understand them. even you, as an ordinary american, we're all supposed to be allowed to understand our financial products now. the idea that america ought to have a thing like that was of course championed and developed by our guest earlier this hour, elizabeth warren. elizabeth warren brought richard cordray from ohio to washington, d.c., in order to head up this organization. for richard cordray running the whole enchilada. >> back in the '80s, richard was also a five-time "jeopardy" champion, and a semifinalist in the tournament of champions. not too shabby. that's why all of his confirmation, all of his answers
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at his confirmation hearings, will be in the form of a question. that's a joke. >> it's never good when you have to say it. but that will be only the first sort of funny thing about the process from here on out. 44 republican senators, get this, 44 republican senators have already said, they will block the appointment of anyone appointed to run the new agency because, frankly, honestly, they don't want a new agency looking after consumers' interests in financial matters. but now we have got a nominee, which means the president is calling the republicans bluff on this one. and elizabeth warren. the only thing we know this nominee is bad at so far is this. >> i'll bet $400, please, alex. >> here is the clue first. group which topped the country charts with the following song about a truck driver. listen.
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♪ roll on, highway ♪ roll on along ♪ roll on, daddy, ♪ till you get back home ♪ roll on family ♪ roll on crew ♪ roll on mama ♪ like i asked you to do ♪ roll on, 18-wheeler ♪ roll on >> who are the bandits. >> no. i sensed you were drawing a blank on that. it's a popular group too in country music. alabama. >> the bandits? foreshadowing, because now he gets to go after them. richard cordray, five-time "jeopardy" champion, first-time candidate for the leader of the new consumer protection agency. i will take standoff for $1 trillion, alex.
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over the past week, our best new thing in the world today has
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repeatedly involved the amazing, nail biting, this is why people love sports sport. that was team usa's thrilling, harrowing, brink of elimination run through the world cup of soccer this past week. there was the moment in the quarterfinals against brazil. brazil in yellow here, when forward abby wambach tied the game with a header in extra overtime, giving the u.s. the chance they needed to go on and win in penalty kicks. so exciting. an all-time classic moment in american sports. so exciting. then the incredible semifinal against france. frenchys in blue here. the u.s. scored three times, securing their place in the final and giving the normally empty sports world on the day after the all-star game a reason to live, a reason to thrive even. it all led to yesterday's women's world cup final. pure pins and needles edge of your lazy boy action from start to finish. team usa played incredibly. in the end, they could not close the door. ultimately, the sports miracle
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belonged to team japan. they are the ones in blue here. team japan won the world cup on penalty kicks. disappointing as that was for team usa, it has to be said sort of a great moment for team japan and their country. the team itself and their coaches saying they took strength and inspiration from their country's perseverance after march's devastating earthquake and tsunami. one of the players on the team had even worked at the fukushima nuclear plant from 2005 to 2009. i know. last night's victory, japan's first-ever women's soccer world cup win, made the country of japan very happy, and frankly it is good to see them happy given what they have been going through these past few months. team usa played brilliantly all through the competition, right up until the end. it was amazing. they are now back on u.s. soil, where they really do deserve a welcome as sports heroes. and as for the best new thing in the world today, real live members of team usa are going to be on this show tomorrow night.